SPY Targets to ES
SPY Targets to ES is an indicator that draws lines on an ES / MES futures chart based of price targets given for SPY.
This is useful if given support/resistance levels or price targets for SPY and you like to see the converted value to ES / MES
This indicator also converts VWAP from SPY and adds it to the ES / MES chart.
Note that conversion is happening on price updates, and there are small conversion differences between ES and SPY as price moves. This is why lines are not perfectly straight. To counter this, smoothing is added which evens out the variations. Please give yourself up to 0.5-1 handle deviation from the line drawn on the futures chart.
Version 1.0 supports up to 30 price targets. More targets will be added in later version
This is useful if given support/resistance levels or price targets for SPY and you like to see the converted value to ES / MES
This indicator also converts VWAP from SPY and adds it to the ES / MES chart.
Note that conversion is happening on price updates, and there are small conversion differences between ES and SPY as price moves. This is why lines are not perfectly straight. To counter this, smoothing is added which evens out the variations. Please give yourself up to 0.5-1 handle deviation from the line drawn on the futures chart.
Version 1.0 supports up to 30 price targets. More targets will be added in later version
Versionshinweise:
Updated the indicator name
Versionshinweise:
Updated default colors
Increased target lines to 31
Increased target lines to 31
Versionshinweise:
Bug fix for line 31
Updated VWAP default smoothing value to 5
Updated VWAP default smoothing value to 5
Versionshinweise:
- Removed VWAP line to add support for line / target 32